SPI financial license in Poland -COREDO

SPI Financial Licence in Poland

Cost from 50 000 EUR

SPI or Small Payment Institution in Poland is engaged in the provision of a wide range of payment services. The law considers such activities as regulated, therefore it requires a licence from the Polish Financial Supervision Authority (KNF). The SPI licence is a convenient solution for small companies, start-ups wishing to enter the financial market, to test their technical solutions and the demand for services within one jurisdiction.


Advantages of obtaining an SPI licence in Poland

Having an SPI licence allows a company to provide a limited range of payment services in Poland, but the regulatory framework for small payment organisations is less strict than for national payment organisations. This simplifies registration and subsequent reporting. In addition, fintech companies will have no problem finding qualified employees in Poland, whose salaries are lower than the European average.

An important advantage of obtaining an SPI licence is the absence of minimum start-up capital requirements. This allows even small start-ups from the Fintech industry to start operating in Europe.

Our services and cost of SPI licence in Poland

COREDO specialists will provide comprehensive assistance in obtaining an SPI licence in Poland. We will undertake:

  • company registration (LLC/JSC);
  • registration of beneficiary data in the CRBR register;
  • preparation of the necessary documents;
  • submission of the application to the relevant authorities;
  • support of the SPI licensing process in KNF.

The cost of the basic package of services is EUR 50,000. As a rule, the licensing process takes about 3 months.

Our services and cost of SPI licence in Poland

List of services that can be provided by SPI 

A small payment institution is authorised to provide a wide range of services, including:

  • accepting deposits, making withdrawals, and maintaining customer accounts;
  • execution of various payment transactions, including transfers to bank accounts;
  • execution of transfers using payment cards and other instruments;
  • making payments using credit;
  • issuing payment instruments (e.g., payment cards, mobile applications);
  • acquiring (providing the possibility of accepting non-cash payments for goods and services);
  • money transfers.
List of services that can be provided by SPI 

Requirements for obtaining an SPI licence

The main requirement for a company applying for an SPI licence in Poland is strict compliance with the rules of the financial regulator. In addition, the entrepreneur must have a clean criminal record (no criminal convictions) and must not have official ties with Russia and Belarus. The shareholders and beneficiaries of a small payment organisation can be Poles or foreign citizens (except for citizens of the Russian Federation and Belarus).

Also the activity of small payment institutions has a number of conditions:

  • the average monthly amount of payment transactions made during the year must not exceed EUR 1.5 million (including transactions made through agents);
  • the client may keep no more than EUR 2,000 in the accounts of one small payment institution.
  • if the limits are exceeded, SPI must apply for an NPI licence within 30 days of exceeding the limits. After the application is submitted, SPI can operate as an NPI and continue to exceed the limits, although it does not formally have this status yet.

Required Documents

To apply for an SPI licence in Poland, the following documents are required:

  • a business and financial plan for the first year of operation;
  • a description of risk management procedures;
  • internal AML policy;
  • procedures for handling incidents and customer complaints;
  • internal rules for handling client funds, etc.

In some cases, the regulator may require additional documents regarding the identity of the owner and the company’s activities.

If you still have questions or require individual counselling – please contact us and our managers will help you.


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